Progcap raises ₹185 Crores from tier 1 VCs
Working capital financing fintech startup Progcap raises $ 25 Mn from tier 1 VCs like Sequoia and Tiger Global.
This is a Series B round which followed a debt financing round ₹ 10 Crore lead by Stride Ventures.
Progcap was founded in 2017, Its headquartered in New Delhi, Progcap is a financial service company that provides financial opportunities for micro and small businesses in the last mile.
Progcap has partnered with Star Finserve, Muthoot Finance & Credit Saison to fecilitate financing on their platform.
Progcap was founded by XLRI batchmates Pallavi Shrivastava & Himanshu Chandra, Pallavi is Ex- World Bank & International Financial Corporation employee and Himanshu is Ex Barclays and Standard Chartered Employee.
Progcap will compete against likes of Indifi, Lendingkart, AYE finance, Incred and many others in this B2B financing space.